This lift isn't very popular but I have seen it done by lifters wishing to do something very different and for those that do have shoulder problems. The reverse band is used to take some of the stress off of the shoulder at the bottom of the press. This is somewhat minimal due to the height of the 3 board, but it is enough so that the lifter can still lockout a good amount of weight and still train this portion of his lift.
This is also a good lift to do when you are sick and tired of doing something normal. Kevin and I use to do similar lifts after a meet to break up the monotony of the training and to simply have a good time.
To set this lift up, be sure to choke the bands at the top of the rack or use the band pegs. An average or strong band is used to perform this lift.
You can use any grip; close, medium or wide.
For max effort work, going to a 1-3RM is usually used. For supplemental work, 3-5 sets of 6-12 reps is the norm.